| October 1, 1991 through September 30, 1997 |
| Total loan amount becomes due only upon sale, transfer, Lease, or other disposition of property. Funds are not forgiven and not pro-rated. |
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| October 1, 1997 through September 30, 1999 |
| Second Lien Loan has 15 year term for existing construction properties. Forgiven 1/15th per year.
Second Lien Loan has 20 year term for new construction properties. Forgiven 1/20th per year. |
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| October 1, 1999 through September 30, 2002 |
| Second Lien Loan of $15,000 or more is forgiven after 10 years. Not pro-rated.
Second Lien Loan below $15,000 is forgiven after 5 years. Not pro-rated.
HQS Repair Funds provided as grant. |
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| October 1, 2002 through September 30, 2004 |
| Second Lien Loan is forgiven after 15 years. Not pro-rated. |
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| October 1, 2004 through September 30, 2006 |
| Second Lien Loan has 8 year term. Forgiven 1/8th per year.
HQS/MHS Repair Funds have 5 year term. Forgiven 1/5th per year. |
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| October 1, 2006 through September 30, 2009 |
| Second Lien Loan has 8 year term. Forgiven 1/8th per year.
Second Lien Loan of $15,000 or more is forgiven after 10 years. Forgiven 1/10th per year. |
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| * To verify your current loan term please review your 2nd Lien Note or contact David Silva at dsilva@enterprisecommunity.org or 214-295-3824. |
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| * Funds become due only upon sale, transfer, lease or other disposition of property during the term of the loan. |
